Market Watch / Expo 2020 Dubai

Market Watch / Expo 2020 Dubai

The wood industry in the UAE is expected to boom over the next two years as the country ramps up construction activities ahead of the Expo 2020 Dubai. The wood and woodworking machinery industry will be impacted from the massive construction projects being executed as part of the build-up for the Expo 2020 Dubai.

The large-scale event is slated to take place from October 20, 2020 to April 10, 2021 at the 438-hectare site in Dubai where massive construction projects are taking shape.

The massive construction activities in the GCC, especially in Dubai that is driven by Expo 2020-related infrastructure and projects – will continue to drive demand for wood products in the coming years.

Expo 2020 Countdown:

22-months to go

To be held from October 20, 2020 to April 10, 2021

At 438-heactare site in Dubai

Reckoned as the world’s largest expo in the history of mankind

Dubai to add 40,000 more hotel rooms by October 2020

Wood industry to be in demand for the megaevent

No doubt that the construction boom represents unrivaled opportunities for all industries, particularly the wood industry, which is likely to get a shot in the arm from the region’s US$ 2.4 trillion worth of construction projects. The upsurge in construction activities will continue to drive demand for wood products, wood-based accessories, interior décor, woodworking machineries and wood flooring materials, all needed for the new structures and hotels, which are being built in the lead up to the mega event.

According to BNC Network, the demand for wood, wood products and woodworking industry is expected to grow further due to the ongoing construction projects the value of which in September 2017 has reached US$ 252.7 billion.

The demand for wood products is expected to be driven also by the new hotel projects, as hotel developers are racing against time to deliver branded hotel keys. The wood and furniture market seem very promising, especially with 70 per cent of the timber and wood products are used in construction industry.